Chinese Rare Earth Market - December 6, 2023

The overall situation in the domestic Chinese rare earth market is lukewarm. Factors such as limited growth in downstream demand, strong support from production costs, and a relatively low supply of some rare earth raw materials have led suppliers to maintain stable pricing, but transactions are scarce.

From the supply side, despite strong environmental protection efforts having a negative impact on the production of some rare earth manufacturers, the overall spot supply in the market remains relatively ample due to the subdued buying interest from downstream users. Additionally, the influx of overseas rare earth raw materials, such as Burmese mines, has significantly increased market spot inventory. On the demand side, the operating rate of magnetic material enterprises is not high, around 70%, and most of them are operating based on existing orders, which is the main reason for the difficulty in increasing trading activity in the market.

In terms of news, according to information from Fujian State-owned Assets, on November 30th, the "Straits Rare Earth Advanced Materials Joint Innovation Center," jointly established by Xiamen Tungsten, Ganzhou Rare Earth, and the Iron and Steel Research Institute, was officially established at Ganzhou Rare Earth. Based on the dual-drive of national major industrial demand and original innovation of rare earth functional materials, the center is committed to accelerating product innovation and achievement transformation, cultivating high-level talents for innovation in the rare earth industry, and comprehensively enhancing the innovation capabilities of the entire rare earth industry chain. In the future, it aims to become a regional technology innovation center for advanced rare earth materials representing international leading levels.

Prices of rare earth products on December 6, 2023

Picture of praseodymium oxide

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